The North America Password Management Market would witness market growth of 19.1% CAGR during the forecast period (2021-2027).
Businesses find it challenging to remember all of their passwords. The complexity and amount of complex systems being implemented across enterprises, as well as tight compliance requirements and standards for creating and updating passwords, make managing passwords difficult. Moreover, password management issues frequently result in costly delays and lost productivity. Using password management software, such concerns can be readily resolved.
In addition, an increase in the number of hacker assaults has raised worries about password security, resulting in a rise in the need for password management solutions. The password management systems and solutions can be installed on-premises or in a cloud-hosted environment.
In the password management industry, North America is expected to develop. Because of the rising number of cyber-threats and attacks, the government has been forced to take steps to implement password management solutions. The National Institute of Standards and Technology (NIST) in the United States, for example, published new authentication rules in 2018 to handle strong passwords at regular intervals. In addition, in 2019, the National Institute of Standards and Technology (NIST) released new guidelines to boost U.S. industrial and innovation competitiveness by advancing technology, science, and standards. This will improve the nation's security and productivity by increasing the adoption of security solutions across the board.
The US market dominated the North America Password Management Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $766 million by 2027. The Canada market is estimated to witness a CAGR of 21.8% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 20.8% during (2021 - 2027).
Based on Type, the market is segmented into Self-service and Privileged. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & Wholesale Distribution, Public sector & Utilities, Education, Manufacturing, and Others. Based on Organization Size, the market is segmented into Large Organizations and Small & Medium Organizations. Based on Access, the market is segmented into Desktops & Laptops, Mobile Devices, Voice-enabled Password Systems and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Password Management Market is Estimated to reach $2.9 Billion by 2027, at a CAGR of 20.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Broadcom, Inc. (CA Technologies, Inc.), Dell Technologies, Inc., Hitachi, Ltd. (Hitachi ID Systems, Inc.), Microsoft Corporation, Knowledge Secure Systems Ltd., Avatier Corporation, Delinea, FastPassCorp A/S, and Core Security (HelpSystems, LLC).
By Type
By End User
By Organization Size
By Access
By Country
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